Friday, July 31, 2015

Paying In A Broken World




It does not matter what you hold your savings in only that it will retain value when conventional paper currencies become a despised possession. When that happens you need the ability to buy the things you need with what you physically have on hand. The question you must answer is what will you have on hand when that day comes.

Paul Craig Roberts – We Are In Scary Times As The Russians Won’t Comply And The Risk Of World War Is Rising

from KingWorldNews:
We are in scary times. The neoconservative ideology which rules American foreign policy and military policy says that the first objective is to prevent the rise of Russia. So if that’s your first objective, then you have to prevent Russia’s rise. In other words, you are committed to war. They tried a coup in Ukraine. They’ll try the same thing in the former Soviet central Asian republics like Kurdistan, Uzbekistan. They will create propaganda about how Russia is going to attack Poland or the Baltics.
The Russians Are Not Going To Comply
They will build up all their troops and bases, hoping to knuckle Russia under and make them agree to comply with American foreign policy. But the Russians are not going to do it. The Russians are not going to comply. So unless some change happens, we are on the road to war.
Dr. Roberts continues @ KingWorldNews.com

Commodities Are Screaming Trouble But the Fed Isn’t Listening

by Pam Martens and Russ Martens, Wall Street on Parade:

The commodities slump has accelerated this past month with gold now trading at five-year lows and the U.S. crude benchmark, West Texas Intermediate (WTI), down 19 percent in just the past month, 49 percent on the year, and 57 percent in the past two years. In early morning trade, WTI is at $47.82 versus $110 two years ago.
Minutes of the Federal Reserve’s Open Market Committee meeting on December 16 and 17 reveal that the Fed was expecting an upturn in oil prices this year, writing: “…inflation was projected to reach the Committee’s objective over time, with longer-run inflation expectations assumed to remain stable, prices of energy and non-oil imports forecast to begin rising next year, and slack in labor and product markets anticipated to diminish slowly.”
CNN Money is reporting this morning that major iron ore or metals exporting countries like Peru (copper), Chile (copper), South Africa (iron ore and gold), Australia (iron ore and gold), Brazil (iron ore), Zambia (copper), and Democratic Republic of the Congo (metals and crude oil) are experiencing a serious economic impact from the plunge in commodity prices over the past year.
Read More @ WallStreetonParade.com



The World Map Of Hubris & Humiliation

The journey from hubris to humiliation in EM has taken roughly 5 years. As BofAML notes, despite muted asset returns, 2015 has seen the emergence of two big trends: the risk of a bubble in US health care & technology; and the crash in EM/Resources/Commodities. The two trends are best exemplified by the "Map of Hubris & Humiliation" which shows among other things that the market cap of MSCI Russia is currently equivalent to Intel’s, while the market cap of Netflix equals that of MSCI Chile.


BofA: The U.S. Economy’s ‘Moment of Truth’ Has Almost Arrived




"There's A Bubble In Pessimism Worldwide, Come On, You Read Zero Hedge!"

When all of your arguments have been crushed with brutal determination, what better way to prove you have no idea what you are talking about than to name drop this website, and start laughing hysterically.



Economics 101: Wal-Mart Hikes Minimum Wages, Prepares To Fire 1000

"Please remember, these people are our neighbors and friends. You have a skill that will be very much in need when this goes down. You are experts in the job market and you know what it takes to get hired. This is a time for us to step up and do what we can to help."



Ron Paul: "All Wars Are Paid For Through Debasing The Currency"

"...seen from the proper angle, the dollar is revealed to be a paper thin instrument of warfare, a ripple effect on the people, a twisted illusion, a weaponized money now engaged in a covert economic warfare that threatens their very livelihood."



Goldman Warns "The Global Economy Is Going Round In (Smaller & Smaller) Circles"

Amid the collapse in commodities, crashing Chinese stocks, the weakest US wage growth in US history, and a data-dependent Fed; Goldman Sachs fears the new normal is 'shorter-and-faster' business cycles with no persistence primed by monetary policies. Most wprryingly, they conclude, will short business cycles beget shorter business cycles?



The IMF Experts Flunk, Again

The IMF failures in Greece bring back vivid memories of the Asian Financial Crisis of 1997-98... As the Indonesian episode should teach us, the IMF’s management can be very political and often neither trustworthy nor competent. Greece offers yet another chapter.



Al-Qaeda Attacks CIA-Trained Syrian "Freedom Fighters"; Commander Captured

"We warn soldiers of (Division 30) against proceeding in the American project. We, and the Sunni people in Syria, will not allow their sacrifices to be offered on a golden platter to the American side."



Bernie, The Koch Brothers, & Open Borders

Presidential hopeful Bernie Sanders recently raised the ire of both progressives and libertarians with his remarks concerning immigration. In just a few sentences, Sanders manages to demonstrate a hodgepodge of nativist, nationalist, protectionist, and socialist sentiments. But for anyone wondering why he wandered off the progressive narrative on immigration, it’s because protectionist labor unions pay him better than, say, La Raza.


I would do the same...

Should It Be A Crime To Shoot Down A Drone Over Your Property?

A Hillview man has been arrested after he shot down a drone flying over his property - but he's not making any apologies for it. "I just think you should have privacy in your own backyard," said William Merideth, 47, "I went and got my shotgun and I said, "I'm not going to do anything unless it's directly over my property."" That moment soon arrived, "within a minute or so, here it came... it was hovering over top of my property, and I shot it out of the sky." Merideth was arrested and charged with first degree criminal mischief and first degree wanton endangerment...



Congress Passes Bill In 15 Minutes To Revoke Americans' Passports Without Due Process

The “war on terror” is a status quo fraud perpetuated by the oligarch-controlled mainstream media and authoritarian members of Congress as a way to systematically strip the American public of its freedom and civil rights in the name of fighting an outside enemy. This tried and true tactic has been used by statists throughout history, and history is indeed repeating itself here in the “land of the free.”


ANONYMOUS Hackers Fight For Liberty

from Press For Truth :



“Anonymous has vowed revenge on Canadian authorities and all I can say is, so long as it’s peaceful, go get ’em! Even though it’s technically illegal to hack into government servers, well since we live in a democracy where “we” are apparently the government, or that the government represents us — then it should be okay. I mean if we are the government then we must really just be hacking into our own system. Kind of like when you lock yourself out of your car and have to break in. You’re not really breaking into a car, because that car is yours and you just accidentally locked yourself out. So if we are the state, then the government must have accidentally locked us out of our country. So thank you Anonymous for returning power back where it belongs!” – Dan Dicks

President Jimmy Carter Speaks TRUTH: “The United States is an Oligarchy” with ““UNLIMITED Political BRIBERY”

from thomhartmann:



Thom Hartmann talks with President Jimmy Carter, 39th President of the United States (1977 to 1981) / Humanitarian / Awarded Nobel Peace Prize in 2002 / Author of many books, including his latest, A Full Life…Reflections at Ninety

The Fall of Chicago — There Will Be No Economic Recovery

from Stefan Molyneux:



Pentagon Employing Top Scientists to Improve US Propaganda Machine

by Cassius Methyl, Activist Post:
Throughout human history, governments have been interested in “mastering the human domain”—in fully understanding how to control the minds of their populations. In 2015, DARPA’s “Narrative Networks” (or N2) program is in full swing. The project is intended to analyze how “narratives” play into human psychology, delving into the way these constructs affect the mind. A narrative is a way of phrasing something, a choice of words, for example, that is likely a biased strategy to frame information.
“Narratives exert a powerful influence on human thoughts, emotions and behavior and can be particularly important in security contexts,” DARPA researchers said in a paper published in the Journal of Neuroscience Methods.
They discussed “…conflict resolution and counterterrorism scenarios [and] detecting the neural response underlying empathy induced by stories is of critical importance.”
Read More @ ActivistPost.com

Obama Administration “Hell-Bent” on Keeping War Crimes Secret

from RTAmerica:



Robotic Surgical Systems Linked to 144 Deaths, 1,000+ Injuries in 14 Years

by Julie Fidler, Natural Society:
In the last 14 years, at least 144 people have died and more than 1,000 have been injured in the U.S. as a result of undergoing robotic surgery. [1]
The injuries, many of them fatal, were the result of broken instruments falling into patients’ bodies, electric sparks burning patients’ tissues, and system errors making surgical procedures take longer than planned. There have even been reports of a robotic hand that wouldn’t let go of tissue grasped during surgery, and a robotic arm smacking a patient in the face as she lay on the operating table. [1]
The study, conducted by researchers at the University of Illinois at Urbana-Champaign, the Massachusetts Institute of Technology and Chicago’s Rush University Medical Center, states:
Read More @ NaturalSociety.com

ISRAELIS Arrested in JPMorgan Hack Case — #NewWorldNextWeek

from corbettreport:



Canada’s NEW Loonie Assassin – Bullion Bulls Canada

by Jeff Nielson, Sprott Money:
There is a heinous mythology that has circulated throughout the Western world for (now) over a generation. It is cloaked in the guise of “economic wisdom”, by the Corporate media and the charlatan economists. This mythology preaches the absurd nonsense that the path to a strong economy is via a weak currency, i.e. through sabotaging one’s own currency.
This economic heresy has reached such epidemic proportions that it has culminated in the utter insanity of “competitive devaluation” : governments collectively making it their official, public policy to race to see who can drive the value of their currency to zero the fastest.
Read More @ SprottMoney.com:

Congressmen Move to Oust Speaker John Boehner

by Tim Brown, Freedom Outpost:

I wrote back in March that John Boehner, according to his own State Constitution, should not even be in office. Sadly, too many in his own state, including the State’s Attorney General are to spineless to enforce their own constitution. Yet, in Congress we are hearing that there is an attempt to at least remove the Democrat, I’m sorry, Republican in name only, John Boehner from his place as Speaker of the House.
Rep. Mark Meadows (R-NC) filed are resolution to declare, “the office of Speaker of House of Representatives vacant,” which would strip John Boehner of his office as Speaker. In other words, it’s a resolution of “no faith” in Boehner.
Meadows’ resolution (HR 385) reads as follows:
Read More @ FreedomOutpost.com

Here We Go Again…

by Karl Denninger, Market-Ticker:

Apparently Bullion Direct, a relatively-popular place to buy and sell gold and silver, has gone under.
That’s ok, people go bankrupt all the time.
But it appears this time there was a bit of a problem with people’s transactions in-process, and perhaps with alleged metal being stored.
Folks, you need to get something through your heads, which I’ve tried to explain before: Nobody works for free.  If you think you can run a company off a 1% commission or some such, well, you can’t.  What this means is that it’s pretty common for various other forms of money-making to take place in a business where it appears that a tiny premium (if any) is being charged, and the easiest way to do it is for the dealer to be an actual speculator and either buy ahead or sell behind.
Read More @ Market-Ticker.org

QE will return to hike gold and oil prices predicts Albert Edwards

by Peter Cooper, GoldSeek:
What could revive gold and oil prices from their current cyclical lows? It was quantitative easing that pushed prices up after the last global financial crisis. Is it about to happen all over again?
Central banks in the Western world have set the scene for an ‘even bigger version’ of the 2007-2008 global financial crisis, Societe Generale’s bearish strategist Albert Edwards said in a research note yesterday.
Chinese stock market crash
Mr. Edwards said that China’s intervention to stabilize its volatile stock market was part of a larger global story, in which ‘rock bottom’ interest rates and large fiscal deficits in the western world were pushing the global economy towards a fall.
Read More @ GoldSeek.com
image/valuewalk.com


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Richard Russell On What Is Really Happening In The U.S. – PCR Weighs In On Greece And The IMF


from KingWorldNews:
Richard Russell: “The mystery: If the economy is as good as the Fed claims, then why is the Fed holding back on a first step-up in short rates? Also, if the economy is as good as the Fed claims it is, why is the Industrial average stubbornly holding below 18,000?
As I write, Industrials are up 5 and the Transports are up 2. The tech-heavy Nasdaq is up 24 and still above the even number 5,000.
Despite the bullish news from the Fed and the government, John Williams insists that the US economy is rolling over and sinking into recession. If this is true, why is it that the media refuses to quote Williams on the economy? Again, I repeat, if the US economy is as good as the Fed and the government claims it is, what’s holding back the Industrials and Transports?
Richard Russell Continues @ KingWorldNews.com



"There's A Bubble In Pessimism Worldwide, Come On, You Read Zero Hedge!"

When all of your arguments have been crushed with brutal determination, what better way to prove you have no idea what you are talking about than to name drop this website, and start laughing hysterically.



"We Want The Names Of Anyone Who Sold" - China's Market Witch Hunt Enters Twilight Zone

Having claimed 'foreign interests' were "waging an economic war" against China, it was ironic that the most outspoken of Chinese SOEs is now under investigation for 'selling' shares when it was told not to. As Reuters reports, China is extending its dragnet for "malicious sellers" to Hong Kong and Singapore as the witchhunt blame-mongery continues, Rather ominously, the China Securities Regulatory Commission (CSRC) has demanded trading records to try to identify those with net short positions who would profit in case of further falls in China-listed shares, three sources at Chinese brokerages and two at foreign financial institutions said. Even more incredibly, as Bloomberg reports, despite total ignorance by US regulators, China is 'daring' to crackdown on market manipulation via 'spoofing'.


QE will return to hike gold and oil prices predicts Albert Edwards

by Peter Cooper, GoldSeek:
What could revive gold and oil prices from their current cyclical lows? It was quantitative easing that pushed prices up after the last global financial crisis. Is it about to happen all over again?
Central banks in the Western world have set the scene for an ‘even bigger version’ of the 2007-2008 global financial crisis, Societe Generale’s bearish strategist Albert Edwards said in a research note yesterday.
Chinese stock market crash
Mr. Edwards said that China’s intervention to stabilize its volatile stock market was part of a larger global story, in which ‘rock bottom’ interest rates and large fiscal deficits in the western world were pushing the global economy towards a fall.
Read More @ GoldSeek.com
image/valuewalk.com

July Jangles Markets' Nerves: Treasury Yields Tumble, Stocks Fumble, & Commodities Crumble








Congress Passes Bill In 15 Minutes To Revoke Americans' Passports Without Due Process

The “war on terror” is a status quo fraud perpetuated by the oligarch-controlled mainstream media and authoritarian members of Congress as a way to systematically strip the American public of its freedom and civil rights in the name of fighting an outside enemy. This tried and true tactic has been used by statists throughout history, and history is indeed repeating itself here in the “land of the free.”


Venezuelans Thrown In Jail For Criticizing Govt On Twitter

from TheAlexJonesChannel:





5 Things To Ponder: Mentally Conflicted

The disconnect between economic underpinnings, market internals and "bullish" investor optimism leaves many investors/advisors "mentally conflicted." If they "sell" too soon, they might miss a further advance in the market. But if they wait too long, well, they have lived through that scenario previously. This week's reading list is a smattering of conflicting views about the markets and the economy.



filed under (unt

"You've Got Jail"

Forget The White House... Hillary is heading to The Big House...




Is This The Top? Private Equity "Exits" Surge To Record Highs

After a slow first quarter of 2015, the private equity industry experienced a revitalization in Q2-2015. Investment dipped by less than 1 percent to $112 billion, holding strong at the second highest Q2 level since 2007, fundraising fell to $30 billion. . Meanwhile, as ValueWalk details, exit volume exploded last quarter to $125 billion - the highest level on record - raising the question: "if everything is so awesome, why the smartest people in the room selling to the public at the heaviest pace ever?"



Friday Humor: The Trump White House & Cabinet

Having told Jimmy Kimmel that he "would love to" appoint Sarah Palin to his cabinet, The Washington Post asks (and answers), just what would a trump cabinet look like?




Will FTC Probe Of Largest For-Profit College Lead To Another Billion Dollar Taxpayer Bailout?

Earlier this week, the largest for-profit college in the country disclosed that the FTC is investigating whether the school adopted "deceptive or unfair practices" in the course of recruiting students. Now that the closure of Corinthian Colleges has set a $3.6 billion precedent, will the government investigation of Apollo Education put taxpayers on the hook again?



Spot The Greek Referendum

When fiat fragility shows its fecklessness, it appears people turn to the alternatives...




Amoeba, Fish, Lizard, Ape, Human, Investor... Meet Evolutionary Economics

We’re always interested in alternative economic frameworks that can help address the sizable gaps left open by classical approaches. Behavioral economics can fill part of that void, of course, as it describes some basic shortfalls in the assumption that we’re all superhuman welfare maximizing individuals. One step beyond that is evolutionary economics, which borrows from biology rather than psychology to form models about economic behavior.




Is Turkey On The Path To Restoring The Ottoman Empire?

"Turkey's interest in northern Syria and northern Iraq is not an abstraction triggered by a group of religious fanatics calling themselves the Islamic State; it is the bypass, intersection and reinforcement of multiple geopolitical wavelengths creating an invisible force behind Ankara to re-extend Turkey's formal and informal boundaries beyond Anatolia."



From Grexit To Brexit?

“It is absolutely ludicrous that when only 10% of the entire UK GDP is exports to the EU that the other 90% of our businesses are tied up with European rules – and I think people are starting to understand that.”






Crude Tumbles Near $46 Handle As US Oil Rig Count Rises For 2nd Week

After last week's surge in total rig count, this week saw a modest 2 rig drop to 874 total rigs. However, oil rigs rose once again - up 5 to 664 rigs. This is the highest since May 8th. The last 5 weeks have seen a 36 rig rise - the biggest such rise since April 2014. WTI Crude prices are reacting negatively to this news.

"Secret" NSA Map Shows Five Years Of Chinese Cyber Attacks

 


U.S. government begins human trials of genetically modified Ebola vaccine

by Anna McPhee, Natural News:
Just as predicted, vaccine companies are soon planning to unveil an Ebola vaccine in response to the manufactured Ebola outbreak that’s allegedly still spreading throughout West Africa. A genetically-modified (GM) Ebola vaccine that’s currently undergoing human clinical trials will be a spray rather than an injection, and its administration, according to one virologist, “…will not require trained medical personnel.”
Much like an inhaler, the novel GM Ebola vaccine will be delivered through a special “breathing device” that anyone can pick up and use without a doctor’s help. It’s made from a common respiratory virus known as human parainfluenza virus type 3, or HPIV3, that scientists artificially engineered to contain genes from the Ebola virus. These genes purportedly encode the proteins of Ebola virus on the outside of the HPIV3 virus, prompting an immune response.
Read More @ NaturalNews.com

Obama to Target Home Owners: Federal Government to Decide who Lives in Your Neighborhood

from Off Grid Survival:
Earlier this month, the Obama administration quietly issued new rules to the Fair Housing Act that will radically alter the way your neighborhood looks. The Affirmatively Furthering Fair Housing Rule (AFFH) will change zoning laws, redefine neighborhoods, control transportation and business development, and remove the authority of state and local governments in the areas of zoning, transportation and education.
President Obama’s Affirmatively Furthering Fair Housing (AFFH) regulation will redefine the American landscape, forcing radical changes to suburban and rural cities around the United States, as the federal government gets ready to take over and redefine the American Suburb. Under the guise of equality, the Obama administration is yet again using racial animosity to push their agenda, this time by annexing American Suburbs and filling them with low-income housing projects.
Read More @ OffGridSurvival.com

The Case for an Explosive Surprise in The Price Of Gold

from Gold Silver Worlds:
I’ve been bearish on gold for so long that my successively lower targets have become almost perfunctory. Lately, I’ve focused on a ‘Hidden Pivot’ target at $817, the attainment of which would presumably wash out the last of the die-hard bulls, clearing the way for a resumption of the long-term bull market. Now, however, I am obliged to consider an alternative possibility — i.e., an explosive move without the washout. Although I lack the imagination to envision such world-shaking news as might cause this to happen, I credit a relatively recent Rick’s Picks subscriber, Michael Gibbons, with jarring me awake.
Gibbons is a market-timer of legend himself, with a high-end service that offers precise, timely trading guidance for 30 vehicles, including commodities, index futures, ETFs, stocks and options. His take on gold, based on the latest Commitment of Traders (COT) report, is that a potentially major move may be close. It turns out that commercial traders have been drastically reducing their short-gold positions, presumably in anticipation of a trend change.
Read More @ GoldSilverWorlds.com

8 Dead Doctors, 5 Missing. You Wont Believe What They Knew, Who They Encountered And Why They Were Targeted!

from The Sleuth Journal:



Over the past few years there have been countless reports of dead bankers and scientists, however just this past month eight doctors have been found dead and five have gone missing after run-ins with the Feds. Including a doctors who linked vaccinations as a cause of autism and holistic doctors.
Is this all just a “coincidence” considering California’s passage of the forced vaccination law? Is it all just a “coincidence” that these doctors just so happen to be murdered the same time that Florida Senator, Frederica S. Wilson, introduces her draconian legislation to force children in public schools to be fully vaccinated? If not then why were five of the murdered doctors linked to the state of Florida, the very state of Frederica Wilson? I believe we have a conspiracy on our hands…
Read More @ Thesleuthjournal.com

SOLD OUT – American Liberty High Relief Gold Coin Sales Top 35,000 in 4 Hours

from Coin News:

The United States Mint’s first-ever $100 gold coin is an official hit. New 2015-W $100 American Liberty High Relief Gold Coins are selling fast, with a waiting list for them now temporarily in effect. The coins will move to "Back Order" status soon, meaning more will be available.
Released today at noon, coin sales climbed over 64% of the 50,000 mintage in 2-1/2 hours and then topped 70% within 4 hours, according to Adam Stump, deputy director of the U.S. Mint’s Office of Corporate Communications. At that point, the Mint’s inventory ran out.
Read More @ CoinNews.com

Greek Debt Crisis Update: Tsipras Calls For New Vote Amid Struggle To Unify Syriza Party Divisions

from IBTimes:
Struggling to unify his splintering Syriza party, Greek Prime Minister Alexis Tsipras said he would not be bullied any further on austerity measures and called for a partywide vote Sunday on whether Greece would be better off without help from European rescue loans. Stuck between a leftist government that wants fewer austerity measures and European lenders that want more, Tsipras said Wednesday that he would not implement additional reforms such as further cuts to the budget or pensions.
The goal of the vote was unclear as a new bailout package was approved by Greek Parliament last Thursday with significant support from parties opposed to Syriza, passing with a 260-63 vote. Reversing a decisive 61 percent “no” vote on further austerity measures in a referendum held on July 5, Tsipras supported the bailout that accepted 86 billion euros, or approximately $94 billion, in exchange for even stricter austerity measures such as hiking up taxes, overhauling the Greek banking system and slashing social spending.
Read More @ IBTimes.com

HOW TO LOWER THE UNEMPLOYMENT RATE WITHOUT EMPLOYING PEOPLE

from The Burning Platform:
It’s much easier than you think. The labor force participation rate of 62.6% is at the lowest level since 1978. There are 250 million working age Americans and according to your friendly government drones at the BLS, 94 million of them are willingly not participating in the job market. According to the government, these people don’t want to work. Only 8 million out of the 250 million are actually unemployed according to the government.
The chart below reveals the fraud being perpetrated by the government with regards to the unemployment rate. The overall labor force participation rate in 2000 was 67.1%. The decrease over the last fifteen years is not warranted by demographics, economics, reason, or need. Using true inflation measures, the economy has essentially been in recession for 13 out of those 15 years. Real median household income is less than it was in 1989.
Read More @ TheBurningPlatform.com

Housing Bubble 2.0: Some Things Never Change

from The Daily Sheeple:
As someone who lives in the Bay Area, I can say from experience that I am absolutely sick of the housing bubble. While this is a national problem, it’s especially bad in America’s major metropolitan areas. You can’t buy a house out here without selling your children into slavery. And forget about rent. In places like Oakland, arguable one of the crappiest cities in America, the rent has doubled in the span of 5 years to an average of $2800 per month. The cost of shelter has surpassed the ridiculous heights of the last housing crash, and the average wage earner in California can neither afford to buy, nor rent.
And yet, the bubble continues to grow, and where it ends, nobody knows.
Read More @ TheDailySheeple.com


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Economics 101: Wal-Mart Hikes Minimum Wages, Prepares To Fire 1000



"Please remember, these people are our neighbors and friends. You have a skill that will be very much in need when this goes down. You are experts in the job market and you know what it takes to get hired. This is a time for us to step up and do what we can to help."



The World's Second Biggest Stock Is Crushing A 28-Year Trendline

Since the lows after the October 1987 crash, XOM has 'trended' positively for 28 years... finding support at a critical trendline four times over that period... until now. While internals of the market are weak, the fact that the world's second largest stock has broken an historic trendline is notably concerning and confirmed by what will be the 3rd monthly close below the level today...




This Is What A Total Breakdown In Market Internals Looks Like

Below-the-surface breakdowns strengthen BCA Research's conviction that investors should stay defensive. Technically, the S&P 500 looks weak. Breadth has thinned considerably this year. Less than 50% of S&P 500 industry groups are trading above their 40-week moving average and/or have a positive 52-week rate of change.




Head Trader Of World's 4th Largest Hedge Fund Caught In HFT Frontrunning Scandal

Shortly after we reported the latest market-rigging scandal, in which ITG was busted for frontrunning sellside clients in its dark pool in what has been since dubbed a "trading experiment" (because it sounds better than criminal conspiracy to defraud clients), and which will cost the company a record for a private Wall Street firm $22 million settlement, we had one question for AQR's Cliff Asness yesterday morning: "Hi @Cimmerian999, is Hitesh Mittal the AQR employee who was formerly at ITG and is part of the SEC settlement?"   We got no answer from the AQR head, but luckily Bloomberg noticed, and as it turns out the answer to our question was a resounding yes.


The Fed's Bathtub Economics Brigade Blathers On, Part 1

Our monetary politburo is driving the US economy in the wrong direction. That is, toward dis-employment of its true, wealth-creating economic resources - human labor, entrepreneurial talent and market driven gains in economic factor efficiency. Contrary to this week’s self-congratulatory statement, all is not well and its not getting weller.




The Swiss National Bank Is Long $94 Billion In Stocks, Reports Record Loss Equal To 7% Of Swiss GDP

Earlier today, the SNB which is perhaps the most transparent hedge fund of all central banks and actually lays out its financial statements in a respectable manner every quarter, released its results for the second quarter (and first half) of 2015. The result: another absolutely epic loss, amounting to €50.1 billion ($51.8 billion) of which €47.2 billion on currency positions - a whopping 7% of Swiss GDP - meaning that in Q2 the SNB lost another €20 billion. This happened despite the SNB having invested 17%, or $94 billion, in foreign - mostly US -stocks.


‘Terror’ Watchlists Erasing American Rights: Feds to “Revoke Passports Without Charge or Trial”

by Mac Slavo, SHTFPlan:
Another small step for authoritarian bureaucracy, another massive leap forward in the destruction of Americans rights to due process and full protection under the law.
Increasingly, designations on watchlists, but official and unofficial, are replacing due process of suspicion, investigation, arrest, charge and trial, and skipping ahead to simply blacklist individuals and deny them equal rights.
This time, the legislation centers around passports, which would now be revoked upon any suspicion, whatsoever and despite a lack of evidence of wrongdoing, of links to foreign terrorists groups. But these links to ‘terrorism’ are not legally defined or limited, nor do they result as a penalty for criminal convictions, but from being added to a list. Gestapo, anyone?
Read More @ SHTFPlan.com


Bad Data... Buy It All

FOMC inflation fears... Weak GDP... Piss-poor wage growth... buy it all




The Cost of Stagnation: We're Living In Limbo

This erosion of opportunities to complete life's stages and core dramas is rarely recognized, much less addressed. The End of Secure Work and the diminishing returns of financialization are disrupting these core human challenges and frustrating those who are unable to proceed to the next stage of life...




LinkedOut - Social Media Superstar Enters Bear Market Overnight

Well that escalated quickly...




VIX Crushed Back To 11 Handle As "Investors" Seek Safety Of Biotechs

Because nothing says "sell vol with both hands and feet" and buy Biotechs like a collapse in the wage growth meme and consumer sentiment...




The 2015 Untrustworthies Report - Why Social Security Could Be Bankrupt In 12 Years

The so-called “trustees” of the social security system issued their annual report last week and the stenographers of the financial press dutifully reported that the day of reckoning when the trust funds run dry has been put off another year - until 2034. So take a breath and kick the can. That’s five Presidential elections away!
...Except that is not what the report really says.



Gold Surges Back Above $1100 As Dollar Dumps After Wage Data

Paper gold prices continue their extreme volatility ride, spiking $20 as the dismal ECI data hit this morning (as we pre-suppose weak data means moar money printing inevitably coming down the pike)...

EU’s Greek Austerity Plan Rejected By The IMF

from Paul Craig Roberts:
I have maintained since the so-called Greek Debt “crisis” began back in 2010, I believe it was,
that the imposition of austerity on Greece could not possibly work and that the only solution was to write down the debt to a level that Greece could service and introduce reforms that loosen the hold the oligarchs have on the Greek economy. The current Greek government has taken the same position, and now the IMF has joined us.
The IMF has said that debt relief measures, that is, write-downs, are necessary and that this necessary measure goes far beyond what the eurozone has offered so far. Asked if the plan could succeed without debt relief, the director of the IMF said, “categorically, no.”
Read More @ PaulCraigRoberts.org

Preparing for Financial Disaster Is More Necessary Than Ever! — Mike Rivero

FinanceAndLiberty.com:



Perth Mint and U.S. Mint Cannot Meet Demand as Gold Bullion Demand Surges

from Gold Core:
Depressed prices have led to the usual market response, a surge in physical demand for coins and bars globally.
This is confirmed in conversations we have had with our refiner and mint partners in recent days. There are growing shortages of supply of small coins and bars. This is resulting in delays in receiving bullion and indeed to rising premiums.
Asian gold demand picked up this week keeping premiums robust and slightly higher in the world’s top gold buying regions.
Read More @ GoldCore.com

The Greek Coup: Liquidity as a Weapon of Coercion

from Ellen Brown:

In the modern global banking system, all banks need a credit line with the central bank in order to be part of the payments system. Choking off that credit line was a form of blackmail the Greek government couldn’t refuse. 
Former Greek finance minister Yanis Varoufakis is now being charged with treason for exploring the possibility of an alternative payment system in the event of a Greek exit from the euro. The irony of it all was underscored by Raúl Ilargi Meijer, who opined in a July 27th blog:
The fact that these things were taken into consideration doesn’t mean Syriza was planning a coup . . . . If you want a coup, look instead at the Troika having wrestled control over Greek domestic finances. That’s a coup if you ever saw one.
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